Are you finding the blog post to include all the latest affiliate marketing statistics for 2024? We are in the right place! We will provide accurate information! And analyze the potential and challenges for merchants and marketers with this data!
Read until the end to see this hottest marketing type’s future! You can predict and stay ahead of your opponents based on remarkable changes!
21 Most Important Affiliate Marketing Statistics in 2024 You Should Know
These 21 statistics for affiliate marketing in 2024 below will be revealed right now!
Affiliate marketing is worth over $17 billion
So impressive!
This statistic means that the total sources of revenue generated globally by all participants in the affiliate marketing industry (including advertisers, publishers, and affiliate networks) exceeds $17 billion.
This figure includes all types of affiliate marketing, such as cost per action (CPA), cost per click (CPC), and cost per mile (CPM) campaigns.
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It’s essential to understand that affiliate marketing is a constantly evolving industry! It demands continuous learning and adaptation.
The first thing we can see immediately is the potential to generate massive revenue!
It’s a lucrative field for marketers who can effectively connect advertisers with potential customers! Also, it is for businesses wanting to expand their reach and increase sales through online channels.
However, it’s important to note that success in this field requires strategic planning! Ongoing efforts and adapting to changing market trends are also included. Still, both must stay on top of the upward trends, consumer behaviors, and regulations to remain competitive.
Over 80% of brands use affiliate marketing
The extensive use of affiliate marketing suggests that many brands recognize the value of working with affiliates! It can be a successful and reliable way to reach potential customers! It also generates leads and drives sales more efficiently than traditional advertising methods.
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It’s good news for affiliate marketers! Most brands implement this type of affiliate marketing strategy strategy. As a result, they will require a substantial number of affiliates suitable for their successful campaigns.
However, competition is fierce! Marketers must have a loyal and targeted audience with influence within the community. Additionally, deeply understanding the promoted affiliate product is a critical criterion!
For brands, this can be a cost-effective marketing method but still reaches many potential customers through affiliate audiences. But recruiting suitable affiliates is not easy! If an affiliate is involved in a scandal, the brand will be boycotted and turned away by consumers.
Searches for “Affiliate Marketing” have doubled since 2016
According to Google Trends data, it’s fascinating to learn that the organic search interest in “affiliate marketing” has been consistently increasing worldwide since 2016.
However, the search interest peaked even more from 2020 onwards. It is due to the COVID-19 pandemic forcing many businesses to focus on online sales, including those with physical stores.
The graph from Google Trends further illustrates this trend by showing how many people are interested in the term “affiliate marketing” on a scale from 0 to 100. By the end of June 2023, the interest in this term reached 100, the highest it has ever been.
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In the past, customers preferred buying products directly only from physical stores. They tend to have a negative perception of online shopping. However, the pandemic in 2020 forced people to stay indoors and unintentionally form the habit of online shopping!
That’s the point! Nowadays, this habit creates an additional sales marketing channel for brands and increases the potential for affiliate earnings.
16% of online orders are from affiliate links
Affiliate marketing is a crucial aspect of eCommerce in the United States and Canada, accounting for around 16% of sales. We can see even the largest e-commerce markets in the world rely heavily on affiliate marketing to drive their sales.
Did you know that an estimated 2.14 billion people purchase goods online worldwide? More surprisingly, 93.5% of global internet users have bought products online.
This trend has led to the rise of social selling, with 61% of organizations engaged in this practice reporting revenue growth. Sales professionals who use social selling techniques have been found to close 40-50% more new businesses than those who don’t!
Once again! The power of affiliate marketing is proven!
There is no doubt anymore that it is a vital tool for businesses! Merchants are seeking to expand their customer base and increase sales. It also gives a worthy chance for those who want to become highly-venue marketers!
The fascinating affiliate industry will continue to evolve and grow! It’s exciting to see how it will shape the future of eCommerce.
$1.5 billion poured into affiliate marketing
Based on data from Crunchbase, affiliate marketing companies have received $1.5 billion in funding from 268 funding rounds. It includes $303.4 million in funding raised in 2021 by software platforms catering to the affiliate marketing industry.
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These statistics indicate that the affiliate marketing industry is gaining traction in investment and attention! Various businesses and entrepreneurs are aiming to capitalize on its potential.
Overall, the influx of $1.5 billion into affiliate marketing has positively impacted both affiliate marketers and merchants.
The growing recognition of affiliate marketing as a legitimate customer acquisition channel has enhanced its credibility. This increased credibility makes it easier for affiliate marketers to attract potential customers and build trust with their audience.
Revenue generated via affiliate marketing sees all-time-high
We have some great news to share. Did you know that revenue generated through affiliate marketing has been on the rise every year? In fact,
- In 2019, it reached a staggering $6.4 billion!
- 65% of retailers report a yearly affiliate marketing revenue of up to 20%.
- The top coupon affiliate websites generate over $1 billion in revenue.
- 15% of the digital media industry’s revenue comes from affiliate marketing.
Event better? If you’re a merchant, you can take advantage of this trend and believe in this type of marketing to increase your revenue. And if you’re a marketer, you don’t have to worry about the lack of job opportunities.
B2C is still the golden child of affiliate marketing
B2C, or business-to-consumer, remains the golden child of affiliate marketing. The numbers speak for themselves: 59.32% of all affiliate programs marketers use are B2C! And 81.4% of affiliates promote B2C products or services.
It dominance can be attributed to the fact that B2C products and services are typically easier to market through affiliate programs. B2C business owners often have larger target markets and more tangible products!
Not just that, people are more likely to buy products they can see, touch, or use. It makes B2C products more appealing to potential customers.
Overall, B2C affiliate marketing remains a lucrative and effective strategy for businesses seeking to grow their customer base and generate revenue. For marketers, it is helpful information when you need clarification about choosing one potential niche to promote!
These are some of the best top 5 affiliate categories based on Supper Metric: Computer & electronics (40%), clothing (41%), online services (30%), accessories (29%), and beauty (28%).
The top 4 affiliate traffic sources are SEO (69%), social networks (67%), and blogging (64%). Email marketing is only in 4th ranking (41%).
Multi-platform approaches for affiliate marketing
Multi-platform approaches for affiliate marketing involve using various channels to promote products or services. Some standard multi-platform methods include content, email, SEO (Search Engine Optimization), paid, and video marketing. Especially, over 65% of affiliate publishers utilize social media to connect with potential customers.
By using a multi-platform approach, both parties can reap even more significant benefits.
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Successful affiliate marketers can reach a wider audience and build credibility. You can even increase trust with their audience and diversify their customer base.
Why? Because you appear in all methods, your audience can easily find your contact information. And you are ready to communicate with them on all platforms!
Similarly, merchants can expand their reach, target specific demographics, and measure the ROI of their campaigns.
However, there are also some challenges associated. Managing multiple platforms requires a significant investment of time. Plus, it is essential to maintain a consistent brand message and marketing strategy across all platforms.
Tracking the results of marketing campaigns can also be complex! Each platform may require different skills and techniques. So, it leads to a risk of spreading affiliate marketing efforts too thin. Additionally, inconsistent branding and messaging across different platforms can be a concern.
Amazon Associates is the leading affiliate marketing platform
According to research conducted by Datanyze, Amazon Associates takes the lead with an impressive 47.85% market share! C.J. Affiliate follows this with a 7.21% market share, Rakuten with 7.17%, and ShareASale with 6.72%.
AWIN only ranks 5th with a 5.65% market share. But considering that Awin now owns ShareASale, their combined share takes second place, just behind Amazon.
Despite the rankings, the Amazon Associate Program remains a lucrative option for many affiliates. With millions of products, affiliates can easily find products that fit your niche & appeal to your audience.
Over 66% of affiliate marketers rely on SEO
Affiliate marketers have been utilizing various marketing techniques to drive website traffic. SEO is the popular tool that 66% of affiliate marketers rely on!
There is a reason! SEO can help affiliate marketers rank higher in search engine results pages (SERPs). It means that the affiliate links are seen by potential customers searching for information about the products or services they promote.
However, marketers need to take time and effort to learn how to optimize the website effectively!
88% of consumers are motivated by influencers’ endorsements
The passage highlights the significant impact of influencer marketing on consumer behavior.
As per the Nielsen Trust In Advertising Sell Sheet, around 88% of consumers have decided to purchase a product based on an influencer’s recommendation. It indicates that many consumers are open to product referrals and trust influencers’ opinions.
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For merchants, this statistic will significantly impact their selling strategy. Influencer marketing through affiliate programs is an effective way to reach potential customers. However, finding the right influencer and negotiating the best deals can be challenging.
For affiliates, it can also be a consideration to succeed in this field. You must have a large audience and stand out to influence them effectively.
90% of customers rely on reviews to buy
A significant majority of customers, 90 out of every 100, depend on or trust the reviews of a product or service before making a purchase decision.
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We can see reviews can significantly build trust and credibility. If a product has positive reviews, it can greatly influence a customer’s decision to purchase! So, the result is to increase sales.
It is a golden opportunity for affiliate publishers to promote products with high ratings and positive reviews.
Moreover, reviews provide valuable feedback for merchants to improve their products or services. Affiliate marketers can also use this feedback to choose which products to promote.
Of course, negative customer reviews can deter potential customers and affect the reputation of the merchant and the affiliate marketer. The presence of fake reviews can also undermine customers’ trust.
Furthermore, a product with few reviews may not seem trustworthy to customers! It’s a challenge for both parties to ensure the authenticity of reviews.
CPA (Cost-per-action) is the preferred model in affiliate programs
In this model, affiliates are paid when the referred visitor completes a specific action, such as purchasing or signing up for a service. It ensures merchants pay only for the desired action, making it a cost-effective strategy.
However, the competitive nature of the Cost-Per-Action (CPA) model means that affiliates need to find ways to stand out and attract high-quality traffic. There’s also the risk of fraudulent activities, where fake leads or actions are generated to earn commission.
Despite these challenges, merchants can implement robust tracking and validation systems. It will detect and prevent fraudulent activities. Regular audits and close monitoring of affiliate activities can also help.
Affiliate marketing revenue sees a 10% growth every year
The statement means that the total annual income generated through affiliate marketing increases by 10% yearly. These rapid growths can be attributed to the rise of e-commerce, technological advancements, and the increasing trust of consumers in online shopping.
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For affiliates, it means more companies are willing to offer affiliate programs, leading to more partnership options.
For merchants, more affiliates are available to promote their products or services.
While the revenue growth is positive, it also brings specific challenges. The increase in affiliates can lead to a saturated market. It is harder for new entrants to establish themselves. There’s also the challenge of maintaining the quality of content with the increase in quantity.
To overcome these challenges, utilizing data to understand consumer behavior and preferences can also help create more effective marketing strategies.
More than 50% of all visitors use mobile devices
So impressive! Over half of the traffic to a website or platform comes from users on mobile devices, such as smartphones or tablets.
With more customers accessing content through mobile devices, there’s a larger audience to reach with mobile-optimized affiliate marketing strategies.
It also suggests that marketers who optimize their content for mobile devices can engage with more users and generate more revenue.
Therefore, affiliates can focus on implementing mobile-friendly designs. You also need to ensure the content is easily accessible on mobile devices.
To do that, use responsive web design, reduce page load times, and provide links and buttons easily clickable on touch screens. Also, tailor content to mobile consumption habits.
The average income per year for an affiliate marketer is $55,000
According to the statistics of PayScale, the average base salary for affiliate marketers in the US is $55,000, based on over 7,000 salary profiles. This figure takes into account various factors such as experience and education level.
It’s worth mentioning that affiliate marketing income varies widely! Some marketers earn just a few hundred dollars monthly, while others make six figures annually. The larger your following, the more money you can make as an affiliate marketer.
About 32% of affiliate marketers are between 35 and 44 years old
The demographics of affiliate marketers reveal that individuals aged 35 to 44 comprise the most significant portion, accounting for approximately 32% of all affiliate marketers. It is interesting to note that this age group also has the highest success rate in affiliate marketing.
The second-largest group of affiliate marketers is individuals between 25 and 34, making up 24% of the total. In contrast, the smallest group is individuals aged 45 to 54, representing only 10% of all affiliate marketers.
Only 3% of affiliate marketers are over 65, and less than 0.3% are under 18. These findings indicate that individuals in their mid-thirties to mid-forties are actively participating.
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The 35 to 44-year-old group’s experience can be beneficial in understanding market trends, consumer behavior, and effective marketing strategies. This age group also likely has a firm grasp of technology and online platforms! You know these skills are crucial for successful affiliate marketing.
However, there could be a lack of diverse perspectives that different age groups can bring. Younger marketers are more in tune with the latest social media trends! And older marketers have more experience in traditional marketing strategies.
Marketers should express a more creative perspective, and merchants should find unique points from affiliates of different ages!
SASS offers the top commission rates
The statement means that Software as a Service (SaaS) companies tend to offer higher commission rates to affiliates than other industries. It can range from 20 – 30%! So impressive!
It can be very attractive for affiliates as it means they have the potential to earn more money from ASSA products/services. It can also benefit SaaS companies by attracting more affiliates to their programs, increasing their reach and potentially their sales.
However, high commission rates can also present challenges. For SaaS companies, it means they are giving up a more significant portion of their revenue to affiliates. It could impact their profit margins if not managed carefully.
Plus, the high commission rates are attractive; therefore, the SaaS industry can be competitive and complex! Unsurprisingly, it requires a good understanding of the products and target audience.
Videos are preferred by 64% of consumers
The statistic indicates that most consumers find video content more engaging, informative, or easier to digest than other forms of content.
Conversely, video content can increase engagement, build brand recognition, and improve search engine rankings. It has the potential to captivate audiences, leading to higher conversion rates and increased sales. It also allows merchants to showcase their products or services dynamically and engagingly.
But, creating high-quality video content requires a larger budget than other content forms. Producing, filming, and editing videos can also be complex and require specific skills.
Fashion industry accounts for 19% of affiliate programs
Nearly one-fifth of all affiliate marketing opportunities are in the fashion sector.
For affiliates, the fashion industry offers a diverse range of products to promote. This diversity allows affiliates to cater to different consumer preferences and needs.
Fraudulent traffic is still prevalent
Fraudulent traffic refers to the practice where individuals or companies create programs that generate fake, non-human website ad impressions, ad clicks, and website visits to inflate revenue.
According to a study from PR Newswire, almost 17% of traffic from affiliate programs is fake. It is a significant increase from the 10% reported in 2020.
As a result, the industry is expected to lose over $3.4 billion in the coming year due to fraudulent traffic. It is staggering, especially considering the industry has grown from $15 billion to $20 billion in just two years.
These programs are often called “bots,” and they can significantly distort the metrics produced by legitimate traffic.
The impact of fraudulent traffic on affiliate marketing is substantial. It will hinder marketers’ ability to evaluate which marketing tactics work and which don’t work for them.
Fraudulent traffic can also lead to losses when fraudsters redirect purchases to parasite websites, effectively stealing their commissions. Advertisers also lose because they pay commissions for fake sales, leads, installs, and clicks.
To run an effective affiliate program, merchants should define clear terms, monitor traffic, vet potential affiliates, and use a fraud prevention platform.
Why Should You Know the Latest Affiliate Marketing Statistics?
For several reasons, knowing the latest affiliate marketing statistics is crucial for both merchants and affiliates.
For Merchants
Understand the market profoundly and take the opportunity. Merchants must have deep knowledge about the market to decide what products/ services to sell! The statistics provide insights into the current product trends and the overall landscape of affiliate marketing.
For instance, if the data shows that the health and wellness industry is seeing a high return on investment (ROI) from affiliate marketing. A merchant in this sector might expand their affiliate program to capitalize on this trend.
In another instance, if the data shows a growing interest in sustainable products! A merchant selling eco-friendly items might launch a new affiliate program targeting this niche.
Strategy planning effectively. The latest data can help merchants identify the most effective affiliate marketing strategies. For example, the statistics show that email marketing has a higher conversion than social media marketing! A merchant might encourage their affiliates to promote their products through email campaigns.
Stay ahead of industry trends. Advertisers should keep abreast of the latest affiliate marketing trends! Even though the trend is short! It is also a worthy chance to improve profit and reputation for merchants!
Identify marketing budget allocation for the campaign. By understanding the ROI from affiliate marketing, merchants can identify proper budget allocation. For example, If the data shows that fashion affiliate marketing on TikTok generates more sales than on YouTube. Advertisers may invest more in TikTok.
Negotiate suitable effective commission rates. Merchants must know the average commission rates in the industry, and niche empowers merchants to negotiate fair and competitive commission rates with affiliates.
For Affiliates
Choosing the right affiliate partners (advertisers). Affiliates can use the statistics to identify the most lucrative opportunities. For example, If the statistics show that tech companies offer higher affiliate commissions than other industries, Publishers can focus on promoting tech products.
Benchmark the performance. Comparing the performance to industry benchmarks helps you assess your strengths and weaknesses. It also identifies areas for improvement and sets realistic goals.
Affiliate marketers can optimize their content, marketing strategies, and affiliate program selections! Use the understanding of average conversion, click-through, and earnings potential to do it.
Update trends. Statistic provides affiliates with updates on the latest trends to create content. Not just that, knowing this trend is famous in what platform also helps marketers quickly go to the top trending and reach more audience
Is Affiliate Marketing Still Worth It?
Of course! All the statistics provided prove that affiliate marketing is still worth it!
In affiliate marketing, there are two leading players: advertisers and publishers. Advertisers leverage affiliate marketing to promote their products and services! Publishers advertise them to build a passive affiliate income.
For those just starting out, it might feel like you’ve “missed the boat” on affiliate marketing. You might think that all the profitable niches have been filled and that competing with established websites is almost impossible.
It might be true for some niches! Especially the most lucrative and popular ones, like insurance, travel, photography, and cooking. Starting with affiliate marketing in 2023 may not be worth your time and effort.
However, the affiliate market is still growing. Every year, more money is spent on affiliate marketing! New opportunities for topics & niches keep popping up.
Would it have been easier to begin an affiliate business 20 years ago? Perhaps! But remember that you would have needed more information, affiliate marketing networks, and attribution tools!
Even in the past or present, the key to success in affiliate marketing is a genuine interest in and understanding of your chosen niche! Creating quality content and promoting products that align with your audience’s needs and interests is essential.
Building trust, providing value, and connecting with your audience is critical! Sales will follow through diligent research, strategic planning, and consistent effort.
When Affiliate Marketing is Not Worth It?
Affiliate marketing is lucrative! But it’s not a get-rich-quick scheme. Expecting overnight success is a recipe for disappointment.
Affiliate marketing requires patience, perseverance, and a genuine interest in the niche you’re promoting. Your efforts will likely fall flat if you’re solely driven by high commissions and lack a true passion for your niche.
What is the Future of Affiliate Marketing?
Keep growing
Affiliate marketing spending keeps growing! It is expected to keep expanding in the future based on statistics from many years.
Many niches will be booming within affiliate marketing in the future. Some include health, beauty, luxury, travel, pets, gaming, technology, sports, and personal finance.
Increased Use of AI (Artificial Intelligence)
Artificial intelligence (AI) will improve the affiliate marketing industry, and it has already done so in numerous ways. Marketers can now use it to target their audience better, personalize content, and optimize performance to increase affiliate marketing ROI.
AI writing tools such as ChatGPT and Jasper AI make generating content swiftly easier for bloggers and creators. Jasper AI, for instance, can assist affiliate marketing in running more smoothly. It helps with tasks like writing, SEO optimization, and editing.
However, using 100% automation is not recommended! Google can easily recognize machine-generated content. Your website may rank low and could have low traffic.
Rise of Micro & Nano-Influencers
Did you know that micro-influencers are responsible for 90% of successful affiliate marketing?
These people have built up a successful social media following! And their following may be smaller than a mega or macro-influencer. However, they are viewed as more authentic and have higher engagement rates.
In the future, brands will focus on turning to micro-influencers. The reason is that they embody authenticity, credibility, and relatability! They are all values that audiences hold in high esteem.
Micro-influencers may not charge as much as macro-influencers! By anyway, they can still generate just as much impact with the campaigns.
Brands will also turn to nano-influencers!
These influencers are not glamorous or polished. They have a knack for being social and engaging with a niche audience. They are seen as authentic, relatable & are generally more accessible and cost-effective for brands.
As the online space becomes increasingly crowded, businesses seek out these more minor affiliates to tap into their loyal and engaged follower base.
Mobile Affiliate Marketing Trending
Smartphones & mobile devices will become more popular! People use their mobile devices more often to make purchases! So, businesses need to adjust their affiliate strategies to account for this.
Creating landing pages that work well on mobile devices, designing with responsiveness in mind, and having dedicated mobile apps are all crucial steps to capturing and keeping the attention of mobile users.
Location-based targeting and push notifications can also help businesses offer personalized incentives & increase the likelihood of conversions.
Blockchain Technology for Transparency
Affiliate marketing requires transparency! Blockchain technology has the 100 potential to revolutionize it. Blockchain offers a decentralized and immutable ledger that records every transaction. So, it can 100% ensure transparency and prevent fraud.
Smart contracts can automatically execute payments to affiliates. It is based on predefined conditions, eliminating the need for intermediaries.
Blockchain-powered affiliate marketing platforms are emerging, offering secure and transparent systems that benefit businesses and affiliates.
Conclusion
This blog post provides all of you with the latest affiliate marketing statistics for 2023! Advertisers and publishers can successfully campaign with these accurate data and numbers!
In fact, making predictions for the future takes work! However, the universe always listens to the courage and fortitude of hearts! Keep effort!
FAQ
What is the success rate percentage for affiliate marketers?
The success rate percentage ranges from 0.5% to 1% per visitor. With more experience, affiliate marketers have higher conversion rates.
What is the rate of growth in affiliate marketing?
Affiliate marketing experiences an annual growth rate of around 10%.
What is the average return on investment (ROI) for affiliate marketing?
Investors have provided affiliate marketing companies with more than $1.5 billion in funding. Brands that utilize affiliate marketing can expect an average ROI of $15 for every dollar spent, resulting in a 1400% return.
For effective investment, 44% of brands prefer first-interaction attribution for their affiliate marketing campaigns.
Is it truly possible to earn a six-figure income through affiliate marketing?
Nothing this impossible! It will based on your performance and effort!
How much do Amazon affiliates typically earn?
The average salary for Amazon affiliates is $85,416 per year. The top 3% earn $117,500 to $126,500, while the lowest 5% earn $24,000 to $33,499.
